An Accountant has been warned he will go to jail after being found guilty of tipping off a client about a police investigation.The stark message to Kishor Doshi, director of Sunderland firm Otax, came after he was convicted of an offence under the Proceeds of Crime Act.
A new scheme is being piloted to give police and other law enforcement agencies access to information held on HMRC’s Money Service Business (MSBs) register. Under the scheme each month agencies will be given details of all Money Service Businesses in their area held on the MSB register.
Under the Money Laundering Regulations businesses need to carry out customer due diligence on their customers. This involves asking to see documentary evidence of a customer’s identity.